[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3253 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 3253

To amend the Internal Revenue Code of 1986 to increase the differential 
                          wage payment credit.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 11, 2023

  Mr. Panetta (for himself, Mr. Wenstrup, Mr. Beyer, and Mr. Moore of 
    Utah) introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
To amend the Internal Revenue Code of 1986 to increase the differential 
                          wage payment credit.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reservist Pay Equity Act of 2023''.

SEC. 2. EXPANSION OF EMPLOYER WAGE CREDIT FOR EMPLOYEES WHO ARE ACTIVE 
              DUTY MEMBERS OF THE UNIFORMED SERVICES.

    (a) Increase in Differential Wage Payment Credit.--Section 45P(a) 
of the Internal Revenue Code of 1986 is amended by striking ``20 
percent'' and inserting ``50 percent''.
    (b) Adjustment for Inflation.--Section 45P(b) of such Code is 
amended by adding at the end the following new paragraph:
            ``(4) Adjustment for inflation.--In the case of any taxable 
        year beginning after 2023, the $20,000 amount in paragraph (1) 
        shall be increased by an amount equal to--
                    ``(A) such dollar amount, multiplied by
                    ``(B) the cost-of-living adjustment determined 
                under section 1(f)(3) for the calendar year in which 
                the taxable year begins, by substituting `calendar year 
                2022' for `calendar year 2016' in subparagraph (A)(ii) 
                thereof.
        If the amount as increased under the preceding sentence is not 
        a multiple of $100, such amount shall be rounded to the nearest 
        multiple of $100.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments made after the date of enactment of this Act.
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